ABC Ltd produces a wide range of electronic components. The company is preparing budgets for the financial year 2021. The management accountant has obtained the following data on component B, akey element in the master budget:

Year 2017 2018 2019 2020

Sales (units) 150,000 180,000 200,000 230,000

Sales revenue (Shs) 294,820 346,706 363,000 448,800

Variable costs (Shs)132,820 162,706 179,000 200,800

Sales volume for the year 2021 have been estimated at 260,000 units.

Required:

a) Enter the above data in an Excel Spreadsheet (2Marks)

b) Using Least square method (Simple Linear regression), forecast the sales revenue for the year 2021(3 marks)